Suez Canal Authority decided the continuity of circular no. 3/2016 regarding VLCC transiting Suez Canal after discharging part of their cargo at SUMID Line (Arabian Gulf / American Gulf or Caribbean Zone) on their round trip loaded and ballast for one additional year till 31st December 2018 in order to encourage VLCC to use The Canal instead of passing around Cape of Good Hope, Article No. 2 in the circular to be amended as follows:

• A VLCC IS TO PAY A LUMPSUM OF USD 180,000 ON HER RETURN BALLAST TRIP FROM NORTH (INCLUDING CHARGES OF TUGS, CHARGES FOR ARRIVAL AFTER THE LIMIT TIME AND CHARGES FOR BOOKING IN THE CONVOY).